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Credit cards debt
pbjackson
Posts: 12 Forumite
For four years I have been paying £1 p/m to 2 credit cards where I owe £10,000. I had had the cards for years and years until I lost my job and started running up a debt which was supported by increased credit limits.
Eventually I rang CCCS and told credit cards I was stuck. It took nearly a year for interest to be stopped, and because I was paying reduced amount they added a late payment charge. By the time it was sorted another £2,000 had been added in interest, late payment charges.
Now one card (Sainsburys) has sold the debt on, while I still pay Natwest for the other. I am 60 now and worry all the time about this debt. I have made an offer to pay it off which has been rejected, but I am never going to be able to pay these debts off.
I do not want to go bankrupt, but I want to be sorted out. I have no prospects of getting work, I am already on benefits, and I don't know what to do for the best.
Should I just leave it at £1 per month, although this has to be reviewed every 3 months by be sending them a financial statement of my affairs, or should I do something about it ?
In 5 years I will get my old age pension, and while looking forward to coming off benefits then, I expect the increased income will be taken by the credit card debts repayments going up.
Any advice welcomed.
Eventually I rang CCCS and told credit cards I was stuck. It took nearly a year for interest to be stopped, and because I was paying reduced amount they added a late payment charge. By the time it was sorted another £2,000 had been added in interest, late payment charges.
Now one card (Sainsburys) has sold the debt on, while I still pay Natwest for the other. I am 60 now and worry all the time about this debt. I have made an offer to pay it off which has been rejected, but I am never going to be able to pay these debts off.
I do not want to go bankrupt, but I want to be sorted out. I have no prospects of getting work, I am already on benefits, and I don't know what to do for the best.
Should I just leave it at £1 per month, although this has to be reviewed every 3 months by be sending them a financial statement of my affairs, or should I do something about it ?
In 5 years I will get my old age pension, and while looking forward to coming off benefits then, I expect the increased income will be taken by the credit card debts repayments going up.
Any advice welcomed.
0
Comments
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How much is each one for, and how much did you offer to pay them off? Is the £1 pm voluntary or is it a CCJ?0
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Have you thought about taking the UE route ? unenforcability, never in doubt was the person who had aload of temps on it but he has moved to another forum called http://www.forum.bankruptcyandlivingwithit.co.uk/index.php i dont normally suggest this but it may be something to consider ? have a look, i think you can read the threads http://www.forum.bankruptcyandlivingwithit.co.uk/viewforum.php?f=35 this is where all the UE info is you will have to hjoin to post for never in doubts advice ... keep positive
I AM A MONEY MAGNET, THEY ARE MAKING MORE MONEY FOR ME AS WE SPEAK:pMIKES MOB, DFW NERD 1071, DFW LHS 132!MIRACLES HAPPEN I'VE SEEN IT WITH MY OWN EYES. LBM 08£77240.69 Current outstanding total £36083.01 Paid so far = £41157.680
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